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O-1993-1875-J
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O-1993-1875-J
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Last modified
11/2/2016 3:38:53 PM
Creation date
11/10/2009 8:47:27 AM
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Legislative Records
Legislative Type
Ordinance
Date
12/8/2003
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<br />. . <br />ORDINANCE NO. l<f15-0" <br /> <br />AN ORDINANCE AMENDING ORDINANCE 1875-1, AUTHORIZING AND <br />ALLOWING, UNDER THE ACT GOVERNING THE TEXAS MUNICIPAL <br />RETIREMENT SYSTEM, "UPDATED SERVICE CREDITS" IN SAID SYSTEM ON AN <br />ANNUAL BASIS FOR SERVICE PERFORMED BY QUALIFYING MEMBERS OF <br />SUCH SYSTEM WHO AT THE EFFECTIVE DATE OF THE ALLOWANCE ARE IN <br />THE EMPLOYMENT OF THE CITY OF LA PORTE; PROVIDING FOR INCREASED <br />PRIOR AND CURRENT SERVICE ANNUITIES FOR RETIREES AND <br />BENEFICIARIES OF DECEASED RETIREES OF THE CITY; AND ESTABLISHING <br />AN EFFECTIVE DATE FOR THE ORDINANCE, <br /> <br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LA PORTE, TEXAS: <br /> <br />Authorization of Updated Service Credits. <br /> <br />(a) On the terms and conditions set out in Sections 853.401 through 853.404 of <br />Subtitle G of Title 8, Government Code, as amended (hereinafter referred to as the "TMRS <br />ACT"), each member of the Texas Municipal Retirement System (hereinafter referred to as the <br />"System") who has current service credit or prior service credit in the System in force and effect <br />on the 1 st day of January of the calendar year preceding such allowance, by reason of service in <br />the employment of the City, and on such date had at least 36 months of credited service with the <br />System, shall be and is hereby allowed "Updated Service Credit" (as that term is defined in <br />subsection (d) of Section 853.402 of the TMRS Act). <br />(b) On the terms and conditions set out in Section 853.601 of the TMRS Act, any <br />member of the System who is eligible for Updated Service Credits on the basis of service with <br />this City, who has unforfeited credit for prior service and/or current service with another <br />participating municipality or municipalities by reason of previous service, and was a contributing <br />member on the 1st day of January of the calendar year preceding such allowance, shall be <br />credited with Updated Service Credits pursuant to, calculated in accordance with, and subject to <br />adjustment as set forth in said Section 853.601, both as to the initial grant hereunder and all <br />future grants under this ordinance. <br />(c) The Updated Service Credit hereby allowed and provided for shall be 100% of <br />the "base Updated Service Credit" of the member (calculated as provided in subsection (c) of <br />Section 853.402 of the TMRS Act). <br />(d) Each Updated Service Credit allowed hereunder shall replace any Updated <br />Service Credit, prior service credit, special prior service credit, or antecedent service credit <br />previously authorized for part of the same service. <br />(e) In accordance with the provisions of subsection (d) of Section 853.401 of the <br />TMRS Act, the deposits required to be made to the System by employees of the several <br />participating departments on account of current service shall be calculated from and after the <br />effective date of this ordinance on the full amount of such person's compensation as an employee <br />of the City. <br />
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